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Sberbank not to issue GDRs in 2010
RBC, 08.09.2010, Moscow 10:55:39.Sberbank thinks there is no need to issue Global Depository Receipts (GDRs) this year, member of the lending institution's executive board Alexander Morozov told journalists today. He explained that GDRs were not feasible for the bank at the moment, since Sberbank's capital adequacy had reached a very high level, and the liquidity of its shares "was quite good." At the same time, Morozov indicated that Sberbank did not rule out a GDR issue altogether, and that the management would consider this possibility next year. In April of this year, German Gref announced that Sberbank was planning to consider in the second half of 2010 the launch of the GDR program.
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